* Mexican shares push Latam stocks higher
* Stocks up 0.1%, FX down 0.3%

By Siddarth S
       Nov 6 (Reuters) - Most Latin American stocks opened the
week higher on Monday, in a rally driven by Mexican shares, on
hopes of an end to the U.S. Federal Reserve's rate hiking cycle.
    MSCI's gauge for Latin American equities
rose 0.1% by 1622 GMT, after having gained nearly 6% last week,
its best weekly gain in 2023.
    Latin American assets had faced a tough October but Fed
Chair Jerome Powell's less hawkish tone and a weak jobs report
last week bolstered bets that the central bank was done with its
tightening cycle and lifted risk sentiment.
    The gradual relaxation of monetary policy and an improvement
in inflation rates should help Latin American economies to
reactivate, by stimulating weak demand and greater dynamism in
the markets, rating agency Fitch Ratings said on Monday.
    The Mexican benchmark index jumped 1.6% on hopes of
an end to Fed rate hikes.
    A slew of key interest rate decisions are due this week from
the central banks of Mexico and Peru.
    The Mexican central bank is widely expected to keep
benchmark interest rates steady at 11.25% on Thursday, according
to a Reuters Poll. 
    "Mexico's central bank have been quite stable in their
commentary in recent weeks and the inflation data has almost
backed this up. So I don't necessarily expect too much of a
change in their stance," said Simon Harvey, head of FX analysis,
Monex Europe.
    Mexico’s consumer confidence index stood at 46.0 in October
when adjusted for seasonal factors, the national statistics
agency said on Monday.
    However the Mexican peso declined 0.3%. 
    The regional gauge for Latin American
currencies fell 0.3%.
    Brazil's Finance Minister Fernando Haddad on Monday said the
government is trying to precisely identify the impact of revenue
shortfalls from past tax changes, acknowledging they will affect
President Luiz Inacio Lula da Silva's new fiscal rules.
    The real was down 0.1%, while the Bovespa stock index
 also fell 2.2%.
    Shares of Embraer dropped 1.7% after the
Brazilian planemaker kept its outlook for the full year
unchanged but acknowledged it might be closer to meeting the low
end of its delivery target range as it continues to grapple with
supply chain issues.
    Production at Chile's largest copper mines was uneven in
September, dragged down by weak performance from state-run miner
Codelco, the Chilean Copper Commission (Cochilco) said on
    The Chilean peso dropped 0.5%, while the leading
index of the Santiago Stock Exchange, the IPSA fell
    Colombian markets were closed due to a holiday on Monday.
    Key Latin American stock indexes and currencies at 1622 GMT:
    Stock indexes             Latest     Daily %
 MSCI Emerging Markets          969.37        2.23
 MSCI LatAm                    2356.93        0.13
 Brazil Bovespa              118504.58        0.29
 Mexico IPC                   52109.14        1.64
 Chile IPSA                    5599.87       -0.37
 Argentina MerVal            637284.15       -2.57
       Currencies             Latest     Daily %
 Brazil real                    4.8947        0.03
 Mexico peso                   17.5297       -0.46
 Chile peso                      880.4       -0.43
 Peru sol                        3.762       -0.71
 Argentina peso               349.9500        0.04
 Argentina peso                    905        2.21

 (Reporting by Siddarth S in Bengaluru, editing by Deepa